Adventis Group PLC
25 May 2005
Adventis Group plc
AGM Statement
25 May 2005
At today's Annual General Meeting of Adventis Group plc ('the Group'), Peter
Mitchell, Chairman of the Group, made the following statement:
'In the financial year ending 31 December 2004 Adventis achieved excellent
results, both in its core business and in setting the foundations for a
programme of strategic growth through the formation of a joint venture and a
major acquisition. On July 1st 2004 Adventis was admitted to AIM and raised a
net figure of £2.6 million for the Group to finance an acquisition programme to
expand from predominantly property marketing services into the Financial
Services and Healthcare sectors.
In August 2004 the Group announced the formation of Adventis NMG Limited as a
joint venture with NMG Financial Services Consulting Limited. This new venture
is an advertising agency specifically designed to service the Financial Services
sector. Subsequently the acquisition of Affiniti (UK) Ltd, a specialised
healthcare advertising agency, was completed at the end of the 2004 financial
year. It builds on the foothold the group has already in this profitable market
and is likely to act as a vehicle for all future healthcare activity.
On 10 March 2005, the Group announced its maiden preliminary results, which were
ahead of expectations. The core business of the Group was underpinned by major
client wins throughout 2004. Profit before tax increased by 83% to £0.77
million on turnover which rose by 32% to £12.09m and the Group had in excess of
£3m on deposit. Earnings per share were up 32% at 2.20 pence per share and the
Company announced a total dividend for the year of 0.85 pence per share.
The management team evolved during 2004 to meet the new challenges and I joined
the board as Chairman in April 2004. Each business stream is managed by an
experienced manager who reports directly to the Chief Executive and the Board.
We attach great importance to continuity of leadership and are pleased with our
record of senior staff retention leading to consistent business growth.
As the business expands the Board ensures that new business streams are fully
integrated into the Group and that, in particular, the financial systems of the
Group are adopted. It is very encouraging to see that cross fertilization
between the new and existing companies goes beyond this and that a recent
important business win by our Healthcare sector agency involved a major
contribution from the core Adventis creative team.
The Group is actively assessing further acquisition opportunities that meet the
stated strategy of building a specialised marketing services group. We are
particularly pleased to note that our new media planning and buying company,
Adgenda Media Ltd, formed on 30 March 2005, has signed in excess of £5m of
indicative new business for the current financial year from clients such as
Fairview Homes, Barratt Homes, Durkan Homes, Fairbriar plc and Harrods Estates
and has been profitable from the beginning of trading. The Board continues to
be very demanding of any possible acquisition and a stringent set of management
and financial criteria must be met if any prospect is to be seriously
considered.
With regard to current trading our main business sectors - Property, Healthcare
and Financial Services - are all influenced by the presently uncertain economic
environment yet the Group has had significant business wins with clients such as
Roche, Barclays Bank, Prudential, Invesco, St James Homes, Grosvenor House
Apartments and Rio Laranga, Algarve.
Trading for the current financial period is broadly in line with expectations,
given the current economic environment and we continue to identify a number of
promising new business prospects and acquisition opportunities which we shall
pursue.
I would like to take this opportunity to thank the directors and staff who have
all contributed to an excellent performance in our first year as a quoted
company and our shareholders and clients for their continued support and belief
in our business.
Details of the further progress made in the current financial year will be
provided in the Group's interim results statement, due to be announced in
September 2005.'
Enquiries:
Charles Phillpot, Managing Director Sarah Gestetner, Justin Griffiths
Adventis Group plc Citigate Dewe Rogerson
Tel: 020 7034 4750 Tel: 020 7638 9571
Philip Haydn-Slater
WH Ireland Limited
Tel: 020 7397 300
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.